A consumer report released by multinational banking and financial services giant ING Group found results of increased interest in Bitcoin [BTC], with interest doubling in the near future. The report was conducted across 13 countries with 15000 respondents.
As the bear market terrorizes investors and bagholders, increased adoption and organic trade activity seem to be the light on the horizon. The report showed that while less than 10% of Europeans own cryptocurrencies, 16% did expect to own them in the future.
15% of respondents said that they would consider receiving their salary in cryptocurrencies. 33% of these individuals believed that cryptocurrencies were the future of investing and online spending.
On this, a behavioral scientist at ING said:
“Cryptocurrency remains an abstract investment for many, but there may be more appetite for digital currencies than some might suggest…. Based on our survey, ownership of cryptocurrencies could more than double in the future – although we do not know when… The volatility of cryptocurrency carries with it both positives and negatives, on the plus side it can increase awareness but may also mean people view digital money as a relatively risky asset. If cryptocurrency stabilizes there may be increased interest.”
The market is currently in a slump, with most prominent cryptos shedding value over the past week. Bitcoin has lost 7.49%, with Ethereum losing 13.01%. Ripple’s XRP surprisingly held strong, with a loss lower than almost all of the top 10 coins at 11.28%. Tron [TRX] is unsurprisingly the most resilient at 11.24%, but that is considering that a 1 billion coin burn event is ongoing.
This comes at a time when there is a lot of regulatory confusion with the state of cryptocurrencies. The regulatory authority of the USA, the Securities and Exchanges Commission, has started making moves into the crypto space by cracking down on fraudulent ICOs and attempting to regulate markets.
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